Police continue to investigate Baugur Skip to content

Police continue to investigate Baugur

According to Iceland State Radio, RÚV, questioning continued all day yesterday in the ongoing investigation of retail company Baugur. Jón Gerald Sullenberger, a former US business partner of Baugur, was among those questioned.

The Baugur investigation aims to determine whether or not Baugur’s current and former CEO’s, Jón Ásgeir Jóhannesson and Tryggvi Jónsson, engaged in fraud, tax evasion and several other illegal activities. Both men have denied all charges.

The investigation began in the Baugur offices in Iceland in 2002 but has since expanded to Luxemburg, the Faroe Islands and elsewhere. The investigation has taken over three years with over 200 people questioned by National Police Commissioner’s Economic Crimes Unit. According to RÚV, it is by far the largest investigation of an alleged economic crime that the Icelandic police has undertaken to date.

There is still no news if, or when, charges will be pressed.

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